Luxgen Motor Co (納智捷汽車), a subsidiary of the nation’s largest automaker, Yulon Motor Co (裕隆汽車), said yesterday that it would work to expand its markets in the Middle East and make inroads into Russia next year.
Luxgen, which was launched in January last year, has recently signed agreements with dealers in Oman, Bahrain, Vietnam, Qatar and the Dominican Republic.
The company entered these markets after participating in car exhibitions that eventually led to partnerships between the company and its dealers in these countries, Luxgen senior vice president Vincent Tsao (曹中庸) told reporters at the Taipei Automobile Show.
PHOTO: CNA
“We plan to expand our market scope in the Middle East to cover Saudi Arabia, Iran and other countries,” he said.
The automaker will take part in an auto exhibition in Dubai next year, he said.
With an eye on entering the Russian market next year, the company is also considering participating in an auto show in Russia in the second half of next year, he added.
On the question of how it plans to market its vehicles to foreign consumers, Tsao said that Luxgen’s advantage is its incorporation of Taiwan’s information and energy technologies into its vehicles’ electronic systems.
He added that Luxgen’s current marketing strategy is focused on branding rather than quantity.
Luxgen made its first overseas shipment on Dec. 20, sending 100 vehicles to the Dominican Republic. The company has forecast that its overseas shipments will exceed 1,000 units next year.
For the Chinese market, a joint venture formed by Yulon and China’s Dongfeng Motor Corp (東風汽車) is planning to ship luxury Luxgen models next year, Tsao said.
After several years flying high as Asia’s best Nvidia Corp proxy, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is increasingly vying with other artificial intelligence (AI) stocks for investor attention. Stock traders are chasing a wider array of beneficiaries as mainstream usage of AI creates demand for hardware beyond the most-advanced chips TSMC makes for Nvidia. Subthemes from the deepening memory crunch to advances in robotics are also luring bids. At the same time, investment caps on single stocks are pushing funds to diversify, while retail investors long familiar with TSMC through its US depositary receipts are being offered a broader set of
TECH RELIANCE: Growth is increasingly reflecting an unequal K-shaped distribution, where technology sectors outperform and other industries struggle, an expert said Standard Chartered Bank has significantly raised its forecast for Taiwan’s economic growth to 9.5 percent this year, up from 7.6 percent previously, citing surging artificial intelligence (AI) demand driving exports, semiconductor production and investment. The upgrade reflects a sustained AI supercycle that continues to fuel demand for advanced chips and technology infrastructure, which form the backbone of Taiwan’s exports, the bank said in a report this week. “We raise our 2026 growth forecast to reflect a much stronger-than-expected first-quarter GDP figure,” Standard Chartered senior economist for greater China and Asia Tommy Wu (胡東安) said in the report. Driven largely by a 35.3 percent
Two of Taiwan’s international carriers, Starlux Airlines Co (星宇航空) and EVA Airways Corp (長榮航空), have retained the five-star airline rating awarded by international airline review organization Skytrax. Starlux was awarded the distinction for a second consecutive year, while EVA Air received it for the 11th straight year, Skytrax said in statements released yesterday and on Thursday last week, respectively. The five-star rating is considered one of the airline industry's highest honors and is awarded following professional audits of airline product and frontline service standards, Skytrax said. The ratings are based on in-depth assessments using unified global quality standards rather than customer review scores
Tokyo Electron's Taiwan unit today said in a written response that it respects the judicial process, takes the court ruling seriously and would not appeal in the Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) trade secrets case. Last month, a court fined the Taiwan unit of Japan's Tokyo Electron NT$150 million (US$4.74 million) in a case involving trade secrets related to TSMC's sensitive chip technology.
RSS